Deals
Halliburton, Baker Hughes Extend Deadline for Closing to April
- U.S. Justice Department not satisfied with divestitures
- Closing date extended to allow time for further proposals
Halliburton, Baker Hughes Delay Deadline for Closing
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Halliburton Co. and Baker Hughes Inc. will extend to April 30 the time period for closing their pending $26 billion merger as they work to satisfy U.S. Justice Department concerns.
The Justice Department told the world’s No. 2 and No. 3 oil service companies that officials aren’t satisfied with Halliburton’s proposals for clearing its purchase of Baker Hughes, but acknowledged that regulators would assess further proposals and look forward to continued cooperation from the parties in their ongoing investigation, the companies said in a statement Tuesday.